CryoPort (NASDAQ:CYRX) Shares Gap Up on Analyst Upgrade

CryoPort, Inc. (NASDAQ:CYRX)’s share price gapped up prior to trading on Friday after BTIG Research raised their price target on the stock from $17.00 to $25.00. The stock had previously closed at $16.03, but opened at $16.59. BTIG Research currently has a buy rating on the stock. CryoPort shares last traded at $16.2060, with a volume of 48,067 shares changing hands.

A number of other equities analysts also recently commented on the stock. KeyCorp raised their price objective on shares of CryoPort from $15.00 to $17.00 and gave the stock an “overweight” rating in a report on Wednesday, May 20th. Jefferies Financial Group set a $13.50 target price on CryoPort in a report on Monday, June 8th. Weiss Ratings raised CryoPort from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, May 6th. Needham & Company LLC upped their price objective on shares of CryoPort from $13.00 to $15.00 and gave the stock a “buy” rating in a research note on Tuesday, May 5th. Finally, Craig Hallum raised their price objective on shares of CryoPort from $15.00 to $20.00 and gave the stock a “buy” rating in a report on Wednesday, June 3rd. Seven analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, CryoPort presently has a consensus rating of “Moderate Buy” and a consensus target price of $16.38.

Insider Transactions at CryoPort

In other news, CFO Robert Stefanovich sold 169,427 shares of the company’s stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $16.27, for a total transaction of $2,756,577.29. Following the transaction, the chief financial officer directly owned 109,850 shares in the company, valued at approximately $1,787,259.50. This represents a 60.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ramkumar Mandalam sold 23,214 shares of the stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $15.44, for a total transaction of $358,424.16. Following the sale, the director directly owned 67,894 shares in the company, valued at $1,048,283.36. This trade represents a 25.48% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 227,641 shares of company stock worth $3,622,515. Corporate insiders own 9.50% of the company’s stock.

Institutional Trading of CryoPort

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. UBS Group AG lifted its position in CryoPort by 6.8% during the 4th quarter. UBS Group AG now owns 1,421,884 shares of the company’s stock valued at $13,650,000 after purchasing an additional 90,363 shares during the period. Meros Investment Management LP raised its stake in shares of CryoPort by 13.9% during the fourth quarter. Meros Investment Management LP now owns 626,427 shares of the company’s stock worth $6,014,000 after buying an additional 76,687 shares during the last quarter. Penbrook Management LLC raised its stake in shares of CryoPort by 251.6% during the first quarter. Penbrook Management LLC now owns 185,775 shares of the company’s stock worth $1,538,000 after buying an additional 132,940 shares during the last quarter. First Eagle Investment Management LLC acquired a new position in CryoPort in the fourth quarter valued at approximately $2,996,000. Finally, Legato Capital Management LLC acquired a new position in CryoPort in the fourth quarter valued at approximately $443,000. 92.90% of the stock is owned by institutional investors.

CryoPort Price Performance

The business’s 50 day simple moving average is $15.25 and its 200-day simple moving average is $11.57. The stock has a market capitalization of $809.66 million, a P/E ratio of 12.01 and a beta of 1.88.

CryoPort (NASDAQ:CYRX) last posted its quarterly earnings results on Monday, May 4th. The company reported ($0.23) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.20) by ($0.03). CryoPort had a negative return on equity of 7.92% and a net margin of 41.57%.The company had revenue of $47.80 million during the quarter, compared to the consensus estimate of $44.86 million. Research analysts anticipate that CryoPort, Inc. will post -0.85 earnings per share for the current fiscal year.

CryoPort Company Profile

CryoPort, Inc (NASDAQ: CYRX) is a global provider of temperature-controlled logistics solutions for the life sciences industry. The company specializes in cryogenic shipping for critical biological materials, supporting the development, clinical testing and commercialization of cell and gene therapies, biologics, vaccines and reproductive medicine. By offering end-to-end supply chain management, CryoPort helps ensure the integrity and viability of temperature-sensitive products from point of origin to destination.

CryoPort’s product portfolio includes proprietary cryogenic dry shippers, advanced active and passive thermal packaging, and real-time data monitoring platforms.